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Palm oil rose earlier as soyoil prices jumped on rumours of new US biofuel demand. Later in the week, SGS and ITS reported slightly weaker February palm demand, and Malaysian crops are expected to peak in April, pushing prices lower.
Reports of weaker palm demand and an early Malaysian harvest point to bearish pressure, while biofuel-driven soy strength offers offsetting support. Coconut oil is tracking palm as Philippine supply recovers.
tmduche.comMar 3, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
